Retirement plan sponsors tend to be reactive rather than pro-active. They would rather not spend money to undergo a plan review and assume everything is fine until they run into a big compliance issue or mistakes are...more

The Department of Labor’s (DOL) new fiduciary rule that is going to go in effect in April 2017 is going to have a profound change in how financial advisors work with their retirement plan clients. It’s unchartered waters,...more

I knew a family member who would never go to the doctor for preventative care. She always reasoned that if she went to a doctor, that meant she was sick. That meant that her goal was avoiding the doctor at all costs. It’s...more

Being a retirement plan sponsor is a tremendous responsibility and the problem is that most plan sponsors don’t understand that. Plan sponsors often act passive because they hire retirement plan providers to help them. The...more

Over the past 18 years as an ERISA attorney, I have some pretty weird reasons why retirement plan providers get fired. I’ll never get the financial advisor who was fired because the client’s new Chief Executive Officer wanted...more

Too often, retirement plan providers are selected at the family dinner table, the golf outing, or at a house of worship. While those are nice places for social gatherings, they are not the ideal place for selecting retirement...more

When I was dating my wife, she asked me if I had a good credit score and I said I did. I never checked my credit score, but I paid all my bills in full and on time. Of course when I got a copy of my credit report, my credit...more

Once upon a time in the 401(k) world, I knew a man named Richard A. Laurita. I worked with Rich (as his friends called him) for two different third party administration (TPAs) firms for over 9 years and he had the most...more

There are many ways that a retirement plan sponsor can improve their 401(k) plan, but they usually balk when it comes to the time and the money needed to rectify it. With so many issues regarding their business especially the...more

I was very lucky that when I started as an ERISA attorney in 1998, I worked as a staff attorney for a third party administrator (TPA). It gave me insight and experience that I could never have gotten as an attorney working...more

It’s easy to forget things. Heck, half of the things my wife tells me to do is forgotten by the afternoon. My wife often suggests that I keep a list of things I need to do so I don’t forget. Of course, I forget to keep lists....more

You’re a 401(k) plan sponsor and we understand that you’re busy running a business and talking about retirement plan issues is as exciting as watching paint dry. The problem is that paint drying won’t expose you to liability,...more

I’m a big fan of The Eagles and one of my favorite songs is the title track “The Long Run.” “You can go the distance. We'll find out in the long run.” While the song is really about love and relationships, I like it because...more

At its prime, Blockbuster Video had 9,000 stores and was actually bought by Viacom in 1994 for $8.4 billion. Then some things called DVDs, Netflix, Redbox, and digital delivery caused Blockbuster to go out of business....more

It’s Friday and time for another overview of developments in the field of business and human rights that we’ve been monitoring.
This week’s post includes: a new guide for business lawyers from the International Bar...more

I’ve been writing articles for the past 6 years and the ones that are remembered the most are the ones about how it’s a bad idea for plan sponsors to use payroll providers as the third party administrators (TPAs) of their...more

Being a retirement plan provider isn’t just about selling services, it’s really about selling yourself and you can’t sell yourself properly if you can’t communicate with clients and potential plan clients. This article is...more

Please join us for a complimentary CLE seminar on current issues affecting your business. Taught by leading practitioners at Locke Lord, the seminar offers three hours of CLE credit, including one hour of Professional...more

Nexsen Pruet tax and employee benefits attorney Sue Odom says retirement plan fees and expenses have been the “hot topic” for the past several years. We’ve seen increased regulation through disclosure requirements and...more

I have been in the retirement plan business for over 17 years and I have met too many plan sponsors who don’t care that their plan isn’t being run correctly. What makes them eventually care is when they are audited by the...more

There is a difference between throwbacks vs. vintage clothing. A throwback is a sports uniform styled to resemble the uniforms that a team wore in the past. Vintage clothing are actual clothing garments from another era. I...more

Like most of my generation, I have been a Star Wars fan since I first saw A New Hope when I was 5 in1977. I even liked the prequel trilogy (except for Jar Jar Binks). When they announced that there would be an Episode VII, I...more

In his inauguration speech, Franklin Delano Roosevelt said that “the only thing we have to fear is fear itself.” Retirement plan sponsors have more to fear than fear itself except the problem is that they’re unaware that they...more

Nov. 14, 2014 (Mimesis Law) -- Tim Corcoran, president of the Legal Marketing Association and head of the Corcoran Consulting Group, talks with Lee Pacchia about some of the myths and bad practices he sees in law firm...more

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